On-Board Connectivity Market to Reach $36.84 Billion, Globally, by 2025 at 14.3% CAGR: Allied Market Research
Surge in IT expenditure in the maritime, aviation, and railway industries, significant increase in disposable income of consumers, and rise in number of airline passengers in past few years facilitate the growth in the global on-board connectivity market
PORTLAND, Oregon, March 12, 2019 /PRNewswire/ --Allied Market Research published a report, titled, "On-Board Connectivity Market by Component (Hardware and Services), Technology (Satellite and Ground to Air), Application (Entertainment, Communication), and End Use (Maritime, Railway, Aviation, and On-road Transit): Global Opportunity Analysis and Industry Forecast, 2018-2025." The report provides a comprehensive analysis of key investment pockets, changing market trends, key winning strategies, market size & forecasts, major segments, and competitive scenario. According to the report, the global on-board connectivity market generated $12.81 billion in 2017 and is expected to reach $36.84 billion by 2025, registering a CAGR of 14.3% from 2018 to 2025.
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Surge in IT expenditure in the maritime, aviation, and railway industries, significant increase in disposable income of consumers, and rise in number of airline passengers in past few years facilitate the growth in the global on-board connectivity market. However, high initial cost related to the deployment of on-board connectivity systems and connectivity issues restrain the market growth. Contrarily, surge in government initiatives for improving customer experience would offer major opportunities in the market.
Ground to Air Technology to maintain its dominance in terms of revenue throughout the forecast period
Based on technology, the ground to air segment accounted for more than two-thirds of the total share in 2017 and will maintain its dominance in terms of revenue throughout the forecast period. This is due to its less expensive nature as compared to satellite technology. However, the satellite segment would grow at the highest CAGR of 15.3% from 2018 to 2025, owing to requirement to offer constant high-speed broadband connectivity from steerable spot beams and ability to offer flexible bandwidth.
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Entertainment segment to continue its dominance by 2025
Based on application, the entertainment segment accounted for nearly two-thirds of the total market share in 2017 and is expected to continue its dominance by 2025. This is due to significant rise in demand for entertainment and social media connectivity in maritime, aviation, railway, and road transit vehicles. However, the communication segment would register the highest CAGR of 14.0% from 2018 to 2025, owing to ability to make phone calls through the satellite-based networks in the airplanes and ships.
North America to maintain its dominant position during the forecast period
North America held the major share, accounting for more than one-third of the total market share in 2017 and will maintain its dominant position during the forecast period. This is due to technological advancements and expansion of leading market players in the region. Asia-Pacific is expected to grow at the largest CAGR of 16.8% from 2018 to 2025, owing to the high penetration of mobile devices, advent of cellular technologies, and favorable government regulations related to on-board connectivity in emerging countries such as China and India.
Leading market players
Leading market players analyzed in the study are ALE International, Global Eagle Entertainment Inc., Bombardier Inc., Honeywell International Inc., Gogo Inc., Panasonic Corporation, Inmarsat Plc., Thales Group, Rockwell Collins, Viasat, Inc. and others.
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